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Curious Cat Kivans

Investing and Economics Blog

Total nonfarm payroll employment increased by 157,000 in January, and the unemployment rate was essentially unchanged at 7.9%, the USA Bureau of Labor Statistics reported today. The change in total nonfarm payroll employment for November was revised from +161,000 to +247,000, and the change for December was revised from +155,000 to +196,000 which means this report shows an increase of 284,000 (157+86+41). In 2012, employment growth averaged 181,000 per month.

The number of unemployed persons, at 12.3 million, was little changed in January. The
unemployment rate was 7.9% and has been at or near that level since September 2012.

Among the major worker groups, the unemployment rates for adult men (7.3%), adult women (7.3%), teenagers (23.4%), whites (7.0%), african-american (13.8%), Hispanics (9.7%), and Asians (6.5%) showed little or no change in January.

In January, the number of long-term unemployed (those jobless for 27 weeks or more) was about unchanged at 4.7 million and accounted for 38.1% of the unemployed. The continued high level of long term unemployment is a continuing concern.

Health care continued to add jobs in January (+23,000). Within health care, job growth occurred in ambulatory health care services (+28,000), which includes doctors’ offices and outpatient care centers. In the last year, health care employment has increased by 320,000.

Manufacturing employment was essentially unchanged in January and has changed little, on net, since July 2012.

Average hourly earnings for all employees on private nonfarm payrolls rose by 4 cents to $23.78. Over the year, average hourly earnings have risen by 2.1 percent. In January, average hourly earnings of private-sector production and nonsupervisory employees increased by 5 cents to $19.97.